A 1% weekly increase is still buying, but it is the slowest pace in weeks. That is the part of the latest $SOL treasury news I would not ignore.
Decrypt reports that DeFi Development Corp, a Nasdaq-listed company, added about 3 million dollars of Solana in its newest SEC filing. Its holdings are now around 2.56M SOL and SOL equivalents. The gain was about half of the week before and far below its mid-September pace.
My take: corporate treasuries were one of the steady buyers behind SOL. When that buyer slows down, the price needs other demand to take its place.
The market data fits that picture. SOL is at 120.9, down 0.45% in 24 hours and up 3.2% over 7 days. It sits 2.3% under its 7-day high of 123.76. Volume is about 193.4M USDT, only 0.72x its 7-day average, and hourly RSI is 53.7, neutral. No panic, no rush.
What would change my view: SOL above 123.76 with volume over its average, which would show new demand without the treasury bid. Below 116.32, the weekly low, the slower buying starts to matter in price.
Not financial advice.
#Solana #DigitalAssetTreasury
Decrypt reports that DeFi Development Corp, a Nasdaq-listed company, added about 3 million dollars of Solana in its newest SEC filing. Its holdings are now around 2.56M SOL and SOL equivalents. The gain was about half of the week before and far below its mid-September pace.
My take: corporate treasuries were one of the steady buyers behind SOL. When that buyer slows down, the price needs other demand to take its place.
The market data fits that picture. SOL is at 120.9, down 0.45% in 24 hours and up 3.2% over 7 days. It sits 2.3% under its 7-day high of 123.76. Volume is about 193.4M USDT, only 0.72x its 7-day average, and hourly RSI is 53.7, neutral. No panic, no rush.
What would change my view: SOL above 123.76 with volume over its average, which would show new demand without the treasury bid. Below 116.32, the weekly low, the slower buying starts to matter in price.
Not financial advice.
#Solana #DigitalAssetTreasury
